March 29, 2013

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March 29, 2013

With attorneys and staff worldwide, Bryan Cave attorneys are often quoted in the news. Recent Media Mentions of Financial Institutions Group attorneys include:

BankBryanCave in GBA e-Bulletin

BankBryanCave post concerning a potential new wave of ATM class actions in Georgia was featured in the March 8 edition of the GBA e-Bulletin, from the Georgia Bankers Association. The suit against Branch Banking and Trust Company in federal court in Atlanta alleges that two of the bank’s ATMs did not meet the accessibility features mandated by the Americans with Disabilities Act. Click here to read the GBA summary of the topic, which links to our original March 6 post written by Atlanta Partners Jennifer Dempsey and Bill Custer.

Linda Odom and Courtney Stolz in Bank Director

DC attorneys Linda Odom and Courtney Stolz authored an article March 29 in Bank Director regarding steps the Federal Trade Commission has taken to push for more unified mobile payments regulation. “For banks interested in mobile banking, its actions and publications are very instructive,” they wrote. “Over the last two years, the FTC’s actions include: bringing law enforcement actions, obtaining high-profile settlements with Google and Facebook and issuing policy reports for mobile businesses and policymakers. Although financial institutions are not directly regulated by the FTC in this area, the FTC does regulate all other mobile providers including merchants, payment card networks and payment processors.” Click here to read the full article. The two also authored an article for Bank Director on proposed guidance from the Federal Financial Institutions Examination Council to help banks manage their social media risks. “Social media has become ubiquitous and many banks are wondering if they can survive without a trendy presence on Facebook, LinkedIn, Twitter, YouTube, and in the ‘blogosphere,’ ” they wrote. “It is a bit of the Wild West out there though, with few rules in place to protect your message.” Click here to read the full article.

Judith Rinearson on Reg Watch

New York Partner Judith Rinearson was quoted March 28 on The Hill’s regulation blog, Reg Watch, regarding new regulations aimed at stopping the use of prepaid credit cards to launder money across the border. The Financial Crimes Enforcement Network within the Treasury Department has been working on rules since 2011 that would require travelers to tell customs officials if they are carrying more than $10,000 on the cards. (Travelers currently must declare only cash and travelers checks above that amount.) “Nobody takes your ATM card to find out what’s in your bank account when you go through customs,” Rinearson said. “If you’ve got a huge line of credit on your credit card – no one asks to see it. Why should prepaid cards be any different?” Click here to read the full article.